Background
Germany is Europe's largest economy and fourth place in the gross domestic product and the fifth GDP (purchasing power parity) in the world. Germany is one of the founders of the European Union and the euro area. [1]
The economic position of this country in the world after the industrial revolution and its formation simultaneously has been named as a leading and innovative country as well as an investor in research projects. The German economy follows the social market system of the market. In 2014, it recorded the world's largest trade surplus of $ 285 billion. [2]
The industrial revolution in Germany took place about a century after England, France, and Belgium, because Germany did not become a single state until the end of the nineteenth century. The formation of the German Customs Union and …show more content…
In 1933, when the Nazis came to power in Germany, the percentage of unemployment in Germany was still high. But then, with the extensive Nazi social programs, such as the Reichstag (train), Reich post and Reich highway, greatly reduced the unemployment rate. [6] After the end of the Second World War, the replacement of the Mark of the Empire with German mark was the starting point for the German economy to flourish under the great power of Conrad Adenauer and his economist, Ludwig Erhard, who turned Germany from a ruined country into one of Europe's largest economies.[7] In 1988, West Germany's exports reached $ 323 billion, while in that same year East Germany had exported $ 30.7 billion worth of goods, with 65% being exported to communist countries. East Germany's unemployment rate was zero percent. And in 1976, the average gross domestic product growth was 5.9%.
Germany is Europe's largest economy and fourth place in the gross domestic product and the fifth GDP (purchasing power parity) in the world. Germany is one of the founders of the European Union and the euro area. [1]
The economic position of this country in the world after the industrial revolution and its formation simultaneously has been named as a leading and innovative country as well as an investor in research projects. The German economy follows the social market system of the market. In 2014, it recorded the world's largest trade surplus of $ 285 billion. [2]
The industrial revolution in Germany took place about a century after England, France, and Belgium, because Germany did not become a single state until the end of the nineteenth century. The formation of the German Customs Union and …show more content…
In 1933, when the Nazis came to power in Germany, the percentage of unemployment in Germany was still high. But then, with the extensive Nazi social programs, such as the Reichstag (train), Reich post and Reich highway, greatly reduced the unemployment rate. [6] After the end of the Second World War, the replacement of the Mark of the Empire with German mark was the starting point for the German economy to flourish under the great power of Conrad Adenauer and his economist, Ludwig Erhard, who turned Germany from a ruined country into one of Europe's largest economies.[7] In 1988, West Germany's exports reached $ 323 billion, while in that same year East Germany had exported $ 30.7 billion worth of goods, with 65% being exported to communist countries. East Germany's unemployment rate was zero percent. And in 1976, the average gross domestic product growth was 5.9%.